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Phathom

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anonymous said:
"Equity" LOL
in over 9 years in the industry, equity has unfortunately never come into play. ever. not worth the paper its written on.
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Then you’ve been working for the wrong companies. Salix equity packages were granted in RSUs not options. They vested 1/3 after a year. By year 3 you got to cash in an entire grant every year. When the company sold, there were reps who walked away millionaires. The reps at Biohaven just made bank when Pfizer bought their company. Kos and Santarus paid incredible equity packages when they were sold.

Find the right opportunity with the right company. You can change your life with a generous equity package.
 




anonymous said:
Then you’ve been working for the wrong companies. Salix equity packages were granted in RSUs not options. They vested 1/3 after a year. By year 3 you got to cash in an entire grant every year. When the company sold, there were reps who walked away millionaires. The reps at Biohaven just made bank when Pfizer bought their company. Kos and Santarus paid incredible equity packages when they were sold.

Find the right opportunity with the right company. You can change your life with a generous equity package.
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yeah, the biohaven / pfizer situation is like hitting the lottery. that happens so incredibly rarely
 












Celgene must have been pretty good. I know they paid them largely in equity and I know several reps who bought 6 figure fishing boats out of their buyout by BMY. The stayed long enough to get some BMY severance (no one in their right minds wants to work there) and they got other liquid tumor gigs.
 




anonymous said:
"Equity" LOL
in over 9 years in the industry, equity has unfortunately never come into play. ever. not worth the paper its written on.
Click to expand...

unfortunately agree.
sure there are the stories of the middle aged rep retiring when big pharma bought out their tiny start up biotech and stock ran to 300 lol. but you said it best, equity is just the paper its written on. when its brought up on interviews i usually tune out. keep your options and grants and just give me a bigger base. at least ill actually see it every two weeks. just my opinion.
 




anonymous said:
unfortunately agree.
sure there are the stories of the middle aged rep retiring when big pharma bought out their tiny start up biotech and stock ran to 300 lol. but you said it best, equity is just the paper its written on. when its brought up on interviews i usually tune out. keep your options and grants and just give me a bigger base. at least ill actually see it every two weeks. just my opinion.
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Grants are not options. Grants are worth the paper they are written on the day you get them. Don’t get fired before they vest and you get all of that and more. I’ve received RSU grants at five companies. Options at two. Three of those five companies were bought out which paid for my house, vacation home and my kids college. RSUs at one company were granted at $36 a share but by the time they vested, they had plunged to less than $2 a share. The options I received at one company were lucrative because the stock went up more than $100 a share during the five year vesting period. The options at the second company were never worth a penny.

Equity is life changing. But do your homework and make sure the package is worth it.
 




anonymous said:
yeah, the biohaven / pfizer situation is like hitting the lottery. that happens so incredibly rarely
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Wrong. It happens all the time but you need to take the risk. Biohaven was a little startup. People laughed at the reps who left cushy jobs to go there saying they’d fail. They took the risk and got paid. Same thing at Salix. It also happened at Gilead when they were tiny. Santarus, Pharming, Celgene, Medimmune, Immunex, etc. are all examples of little startups that paid their reps with grants and they all got gobbled up or got huge. And the reps who took that risk got PAID.

Just because it never happened for you doesn’t mean it doesn’t happen all the time.
 




You bag carriers schlepping sample boxes and sandwich platters in and out of disgusting medical offices will barely get a whiff of equity in this company. You’re all a dime a dozen and the company won’t give valuable options or RSUs to you in any significant and life changing amount.
 




anonymous said:
You bag carriers schlepping sample boxes and sandwich platters in and out of disgusting medical offices will barely get a whiff of equity in this company. You’re all a dime a dozen and the company won’t give valuable options or RSUs to you in any significant and life changing amount.
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And you are on this board, why? Take the Xanax and breathe.... It will all be ok, you will find another job!
 




Already very impressed with how Phathom handles itself. I've never received such a detailed note with important information and what to expect before my start date. FWIW they seem to emphasize employee experience and clear communication which is such a breath of fresh air compared to the last few places I worked where it was clear employee satisfaction was an afterthought. Hoping this is just the start of a fantastic (phantastic?) experience.
 
























I was told 4-5 wks ago I would be contacted by HR with a verbal offer(written ones out by 1/11), but haven’t heard anything. I know they are swamped with all the ramp up, but anyway else…..”waiting?”
 




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